An analysis of comparative balance sheets, the current years income statement, and the general ledger...
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Accounting
An analysis of comparative balance sheets, the current years income statement, and the general ledger accounts of Hailey Corp. uncovered the following items. Assume all items involve cash unless there is information to the contrary. Indicate how each item should be classified in the statement of cash flows using these four major classifications: operating activity (that is, the item would be listed among the adjustments to net income to determine net cash provided by operating activities under the indirect method), investing activity, financing activity, and significant noncash investing and financing activity.
(a) Payment of interest on notes payable. Noncash Investing and Financing Activity Investing Activity Financing Activity Operating Activity (b) Exchange of land for patent. (c) Sale of building at book value
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